This is an application for anticipatory bail, filed by the petitioners, anticipating arrest in a non-bailable offence by the 1st respondent under Section 438 of the Code of Criminal Procedure. 2. It is alleged in the petition that, the first petitioner is the Managing Director of Sree Karthiayini Chits(P) Ltd., Cherthala, and 2nd petitioner who is non other than the wife of the first petitioner and director of the said company. He is also conducting a Chit fund business in the name and style of Souparnika Chits and Finance and it was registered in Jammu and Kashmir started in the year 2013 and Sree Karthiayini Chits (P) Ltd., was registered under the Provisions of the Kerala Chits Act and Kerala Money Lenders Act as well. On account of the 'Kubera Operation' sponsored by the Government of Kerala, customers and subscribers to the chity started non payment of the amount due to the company under the impression that they will not get the benefit of profit. So they could not pay the amount due to the subscribers and they were compelled to close the company. Now it appears that several complaints have been filed by the subscribers, alleging offence under Section 420 and 406 of the Indian Penal Code and also the Provisions of Money Lenders Act. So they apprehend arrest in those cases. They prayed for allowing the application.
3. The counsel for the petitioners submitted that, the petitioners have not committed any offence. In fact huge amount is due to the company from the subscribers and on account of non-payment of those amounts by the subscribers under the wrong impression that, the subscribers also will get the benefit of 'Operation Kubera' launched by the Government, they could not pay of the amount due to the persons who bid the chity. They are not willfully avoiding payment and he is prepared to discharge the liabilities of others. Efforts are being taken by them also for that purpose.
4. The application was opposed by the Public Prosecutor on the ground that, the investigation is not over and 2nd petitioner has not been made accused so far. Further apart from the defacto-complainant, lot of complaints have been received against the first petitioner regarding the chity conducted by him, those are also being enquired by them.
5. Heard both sides and perused the case diary files.
6. It is seen from the case diary file that, on the basis of a complaint given by the defacto-complainant, a case has been registered by Cherthala police as Crime No. 1852/2014 of Cherthala police station, alleging offences under Section 406 and 420 read with Section 34 of the Indian Penal Code against the first petitioner and one Raju, who is the Senior Manager of M/s.Karthiayini Chits (P) Ltd., Cherthala. The Prosecutor had no case that the chity was not a registered one. Further they have no case that the petitioners were engaged in unauthorised money lending as well at this stage. 2nd petitioner has not been made accused so far. So the apprehension of the 2nd petitioner that she is is likely to be arrested in connection with the above crime at this stage is without any basis. So he is not entitled to get anticipatory bail at this stage.
7. As regards the first petitioner is concerned, there are circumstances which made the company to be closed, according to the counsel for the petitioners and if that is the real reason,it cannot be said that there was any dishonest intention as such. It has to be considered by the investigating officer by questioning him and also by collecting the materials available. But I am not expressing any opinion regarding this aspect at this stage and I do not think that, it is proper to grant a blanket anticipatory bail, but at the same time, it can be granted after assuring his presence for interrogation, if he is produced before the court, he can be released on bail with some conditions. So the application is allowed with following conditions:
1. The first petitioner shall surrender before the investigating officer in Crime No.1852/2014 of Cherthala police station on 23.10.2014 between 9.00 a.m., and 11.00 a.m.,. On his surrender and after interrogation if the investigating officer feels that his arrest is required, then after recording his arrest, produce him before the Judicial First Class Magistrate Court-I, Cherthala, without delay as far as possible on the same date and on such production, if the petitioner moves for regular bail, then the learned magistrate is directed to release the petitioner on bail on the following conditions:
i. The first petitioner shall be released on bail, on executing a bond for ₹1,00,000/- (Rupees One lakh only) with two solvent sureties each for the like sum to the satisfaction of the Judicial First Class Magistrate Court-I, Cherthala.
ii. The petitioner shall appear before the investigating officer on the last Saturday of every month between 9.00 a.m., and 10.00 a.m., till the final report is filed.
iii. Petitioner shall appear before the investigating officer for the purpose of interrogation as and when required in connection with the above crime, in writing to do so, till the final report is filed.
iv. Petitioner shall deposit ₹5,00,000/- in the name of Judicial First Class Magistrate Court-I, Cherthala, in a nationalised bank for a period of two years and produce the fixed deposit receipt before that court at the time of moving the application for bail and that deposit can be renewed from time to time, till the disposal of the case by the learned magistrate.
v. Petitioner shall file an affidavit before the Judicial First Class Magistrate Court-I, Cherthala, that he will not alienate his properties or property of the company or encumber the properties without getting permission from the Judicial First Class Magistrate Court-I, Cherthala, till the disposal of the case and produce the certified copy of such affidavit filed before the concerned registrar offices, within whose jurisdiction the properties are situated within two weeks from the date of his release, so as to enable them to enter the same in the respective registers to avoid transfer of properties by the first petitioner.
vi. Petitioner shall not influence or intimidate the witnesses.
vii. Petitioner shall not involve in any crime of similar nature, during the bail period.
viii. Petitioner shall surrender his passport if any with him before the Judicial First Class Magistrate-I, Cherthala, at the time of surrender and if he is not having any passport file an affidavit to that effect.
ix. Petitioner shall not leave the State of Kerala without getting prior permission from the Judicial First Class Magistrate Court-I, Cherthala, till the disposal of the case.
With the above conditions, the application in respect of the first petitioner is allowed, but the petition in respect of the 2nd petitioner is dismissed, as he has not been made an accused so far.
Sd/-
K. Ramakrishnan, Judge // True Copy // P.A. to Judge ss